08-05-2019, 06:31 AM
Technical Overview of EUR/USD, AUD/USD and NZD/USD Currency Pair
EUR USD
EUR traded higher against USD and closed at 1.1107.
The ISM Non-Manufacturing Index released by the Institute for Supply Management (ISM) today shows business conditions in the US non-manufacturing sector. It is worth noting that the non-manufacturing sector does not influence, either positively or negatively, the GDP as much as the ISM Manufacturing does. A result above 50 is positive (or bullish) for the USD.
According to the Analysis, pair is expected to find support at 1.1121 and a fall through could take it to the next support level of 1.1117. The pair is expected to find its first resistance at 1.1130 and a rise through could take it to the next resistance level of 1.1135.
AUD USD
AUD traded lower against USD and closed at 0.6799.
NZD USD
NZD traded lower against USD and closed at 0.6540
The Employment Change released by the Statistics New Zealand is a measure of the change in the number of employed people in New Zealand. Generally speaking, today a rise in this indicator has positive implications for consumer spending which stimulates economic growth. A high reading is seen as positive (or bullish) for the NZ dollar, while a low reading is seen as negative (or bearish).
According to the Analysis, pair is expected to find support at 0.6521 and a fall through could take it to the next support level of 0.6513. The pair is expected to find its first resistance at 0.6533, and a rise through could take it to the next resistance level of 0.6537.
EUR USD
EUR traded higher against USD and closed at 1.1107.
The ISM Non-Manufacturing Index released by the Institute for Supply Management (ISM) today shows business conditions in the US non-manufacturing sector. It is worth noting that the non-manufacturing sector does not influence, either positively or negatively, the GDP as much as the ISM Manufacturing does. A result above 50 is positive (or bullish) for the USD.
According to the Analysis, pair is expected to find support at 1.1121 and a fall through could take it to the next support level of 1.1117. The pair is expected to find its first resistance at 1.1130 and a rise through could take it to the next resistance level of 1.1135.
AUD USD
AUD traded lower against USD and closed at 0.6799.
- AUD/USD down 0.5% in sympathy with a weakening Yuan as China fights back.
- USD/CNY blasts through pivotal 7.00 as US-China trade tensions escalate.
- Leads to risk aversion in Asia as risk/EM assets sold across board.
- Havens JPY, XAU +0.5%, US-10 year yield hits 1.7890, lowest since Nov 9, 2016.
- Risk barometer AUD/JPY -1% to a new 2019 low; RBA to sound more dovish Tues?
NZD USD
NZD traded lower against USD and closed at 0.6540
- A number of downward slopping trend lines indicate weakness of NZD/USD.
- 10-week old support-line grabs bears’ attention.
- In addition to a two-day long descending trend-line, the NZD/USD pair’s sustained trading below a resistance-line stretched since late-July also portrays its weakness as the quote seesaws near 0.6510 during early Monday.
The Employment Change released by the Statistics New Zealand is a measure of the change in the number of employed people in New Zealand. Generally speaking, today a rise in this indicator has positive implications for consumer spending which stimulates economic growth. A high reading is seen as positive (or bullish) for the NZ dollar, while a low reading is seen as negative (or bearish).
According to the Analysis, pair is expected to find support at 0.6521 and a fall through could take it to the next support level of 0.6513. The pair is expected to find its first resistance at 0.6533, and a rise through could take it to the next resistance level of 0.6537.